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Where should I open an IRA?

You can open an IRA through almost any large financial institution, including banks, mutual fund companies and brokerage firms. Most IRA providers offer a broad variety of investment options, ranging from CDs to money market funds to mutual funds to individual stocks and bonds, so you can put together a diversified retirement portfolio within your IRA no matter which one you choose.

The major difference between most institutions is the fee structure. So make sure to carefully compare fees before choosing where to open your IRA. A no-load mutual fund family such as Fidelity, T. Rowe Price or Vanguard can often be a good way to go.

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